Islamabad, June 04, 2023 (PPI-OT): Dr. Hanif Mughal, Senior Vice President of Pakistan Economy Watch (PEW), said on Sunday that the political temperature is decreasing in the country, which is a good sign for the struggling economy. Masses are getting satisfied as inflation is receding, economic indicators are slowly improving, and things are coming back to normal, he said.
Dr. Hanif Mughal said in a statement issued here today that economic development will accelerate if appropriate measures are taken in the budget which will give relief to the people. He said that the previous government not only took record loans in the history of the country, but also set new records of mismanagement.
Pakistan’s economy which was 22nd in the world was pushed down to 47th number and now their frustrated leaders are claiming that the country will be bankrupted any time soon. The former government destroyed the economy, leading to closure of thousands of businesses and millions losing their jobs
The international institutions that provided record loans to the former cabal without question are not ready to provide a billion dollars to Pakistan, which indicate their ill intentions, he observed. He said that if the government was not changed, it would have put the integrity of the country in jeopardy to please their foreign masters.
Mr. Mughal said that the process of difficult reforms has been completed, due to which the people and the business community had to bear a lot of trouble, but now the situation is improving, and the people have started getting some relief.
The government is committed to implementing long-term reforms aimed at improving the country’s economic situation and Pakistan will never default like Sri Lanka, he said. While the IMF’s rejection of Pakistan’s request poses a hurdle, the government remains resolute in its efforts to revive the deal and secure the financing to support the economic recovery.
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